This centrally located mixed-use building is an opportunity to own a cash flowing asset in the thriving New London market. Located near major economic drivers like Electric Boat, Pfizer, Coast Guard Academy, Connecticut College, and UConn Avery Point, this asset is in the heart of Southeastern Connecticut's growing economy. 623-625 Bank Street is well-positioned in New London, offering convenient access to the city's central business district, neighborhood retail corridors, and surrounding residential neighborhoods. The Property benefits from strong connectivity to major regional routes, including Interstate 95, U.S. Route 1, and Route 32, providing efficient access throughout southeastern Connecticut and into Rhode Island The multi-story building contains one (1) Commercial unit and three (3) 2-Bedroom/1-Bathroom units with 4,472 square feet of gross living area in 4,688 square feet of gross area. The Property is situated upon a 0.12-acre parcel and features one (1) off-street parking space. This is a great value-add opportunity for hands on investors looking to increase cash flow in a flourishing rental market.
| Listing Id: | 24207830 |
|---|---|
| List Price: | $540,000 |
| Property Type: | Commercial Sale |
| Status: | Active |
| Bank Owned Property: | No |
| Baths Full: | 3 |
| Living Area Sqft Per Public Record: | 4,688 |
| Property Tax: | $6,702 |
| Acres: | 0.12 |
| Direct Waterfront Yn: | No |
| City: | New London |
| County: | New London |
| Postal Code: | 06320 |
| Year Built: | 1920 |
| Total Number Of Units: | 4 |
| Agent Owner Yn: | No |
| Assessed Value: | $247,300 |
| Basement Description: | No |
| Baths Total: | 3 |
| Comp Only Manual Yn: | No |
| Cooling System: | Ceiling Fans, Wall Unit |
| Current Price: | $540,000.00 |
| Directions: | Please park on Bank Street in front of the building. |
| Display Fair Market Value Yn: | No |
| Documents Available: | None |
| Heat Fuel Type: | Electric |
| Heat Type: | Baseboard |
| Listing Contract Date: | 2026-09-17 |
| Location: | Downtown |
| Lot Description: | N/A |
| Mil Rate Total: | $27.10 |
| Status: | Active |
| Occupied By: | Tenant |
| Original List Price: | $540,000 |
| Parcel Number: | 1999731 |
| Possession Availability: | At Closing |
| Potential Short Sale: | No |
| Preferred Phone: | (203) 243-8785 |
| Price: | $540,000 |
| Road Frontage Description: | Paved Road |
| Roof Information: | Asphalt Shingle |
| Sewage System: | Public Sewer Connected |
| Sign Yn: | No |
| Sq Ft Residential: | 2,376 |
| Sq Ft Retail: | 2,096 |
| Sq Ft Source: | Public Records |
| Sq Ft Total: | 4,688 |
| Tax Year: | July 2026-June 2027 |
| Under Agreement Yn: | No |
| Utilities Available: | Electric, Gas |
| Water Source: | Public Water Connected |
| Zoning: | C-1 |
Listing Courtesy of: Horvath & Tremblay
Listing Agent: Thomas Connor
(203) 243-8785
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Smart MLS Inc. data last updated on October 08, 2026 06:51 PM - ET
Property Last Updated: October 08, 2026 06:51 PM - ET
